Barbican and Toa Re secure in-principle approval for SPA

Barbican and Japanese reinsurer Toa Roe have gained in-principle
approval from Lloyd's to establish special purpose arrangement
6132.
The SPA will be backed exclusively by Toa Re and managed by
Barbican Managing Agency Limited with an initial capacity of
£31.4mn ($41.5mn).
SPA 6132 will start underwriting on 1 January, subject to formal
approval.
Toa Re is the sole domestic professional reinsurer in Japan
providing both life and non-life coverages.
The SPA will support the expansion of Toa